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Foreign properties lure Chinese buyers

Chinese buyers are looking overseas to purchase foreign property - especially when it comes along with Western residency visas too.

Chinese investors have become increasingly interested in buying property overseas, and to add to the craze, many struggling Western countries are offering permanent residency visas to attract them.

This upcomong weekend is the Beijing International Property Expo, with over 140 land devlopers and real estate agencies coming to Beijing to showcase their global properties and projects. 

Many agents are coming from Cyprus, promoting the new immigration policy offering a residence permit in the European unit with a investment of at least €300,000 (US$388,000). 

Reportedly by the end of the year ending August, over 600 Chinese investors had applied for the Cyprus Investor program contributing over €24 million to the Cyprus economy.

Read more from this story on China Daily.